JPMorgan Chase & Co. raised its stake in shares of Plumas Bancorp (NASDAQ:PLBC - Free Report) by 185.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,750 shares of the financial services provider's stock after purchasing an additional 14,128 shares during the period. JPMorgan Chase & Co. owned 0.37% of Plumas Bancorp worth $1,028,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the stock. Albert D Mason Inc. raised its position in shares of Plumas Bancorp by 4.0% during the 4th quarter. Albert D Mason Inc. now owns 7,479 shares of the financial services provider's stock worth $353,000 after purchasing an additional 286 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of Plumas Bancorp by 7.9% during the third quarter. Jane Street Group LLC now owns 6,206 shares of the financial services provider's stock valued at $253,000 after acquiring an additional 457 shares during the last quarter. Picton Mahoney Asset Management purchased a new position in shares of Plumas Bancorp in the fourth quarter valued at approximately $32,000. SG Americas Securities LLC acquired a new stake in shares of Plumas Bancorp in the fourth quarter worth approximately $105,000. Finally, State Street Corp boosted its stake in shares of Plumas Bancorp by 3.8% in the third quarter. State Street Corp now owns 68,879 shares of the financial services provider's stock worth $2,809,000 after acquiring an additional 2,526 shares during the last quarter. Institutional investors and hedge funds own 41.68% of the company's stock.
Analyst Ratings Changes
A number of research analysts have weighed in on PLBC shares. Piper Sandler decreased their price objective on Plumas Bancorp from $60.00 to $59.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Raymond James reiterated an "outperform" rating and issued a $54.00 target price (up from $49.00) on shares of Plumas Bancorp in a research report on Thursday, January 30th.
View Our Latest Research Report on PLBC
Plumas Bancorp Stock Performance
NASDAQ:PLBC opened at $42.39 on Monday. Plumas Bancorp has a one year low of $32.50 and a one year high of $51.33. The stock has a market cap of $250.95 million, a PE ratio of 8.85 and a beta of 0.55. The stock has a 50 day moving average price of $42.88 and a 200 day moving average price of $44.81.
Plumas Bancorp (NASDAQ:PLBC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.13 by $0.07. Plumas Bancorp had a return on equity of 16.88% and a net margin of 30.74%. The business had revenue of $21.50 million for the quarter, compared to analyst estimates of $20.62 million. During the same quarter in the previous year, the firm earned $1.05 EPS. As a group, analysts predict that Plumas Bancorp will post 4.51 earnings per share for the current fiscal year.
Plumas Bancorp Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, May 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.83%. Plumas Bancorp's dividend payout ratio is currently 24.29%.
Insider Activity
In other Plumas Bancorp news, Director Michael Kevin Foster bought 1,000 shares of the business's stock in a transaction on Thursday, February 20th. The stock was bought at an average price of $45.67 per share, with a total value of $45,670.00. Following the completion of the purchase, the director now directly owns 1,000 shares in the company, valued at $45,670. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 9.00% of the company's stock.
Plumas Bancorp Company Profile
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Free Report)
Plumas Bancorp operates as the bank holding company for the Plumas Bank that provides various banking products and services for small and middle market businesses, and individuals in Northeastern California and Northwestern Nevada. The company accepts various deposits, such as checking, money market checking, business sweep, public funds sweep, savings, time deposit, and retirement accounts.
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